Dáil Éireann Debate, Wednesday - 13 May 2026
114. Deputy Robert O'Donoghue asked the Minister for Social Protection what protections or supports are available to individuals who invested pension savings with a company (details supplied) and who now face significant financial losses arising from the company's liquidation; and if he will make a statement on the matter. [35695/26]
Amharc ar fhreagraFirstly, I hope the Deputy will appreciate that I am unable to comment or intervene in relation to issues specific to an individual pension scheme or pension provider.
My Department has no role or function in relation to the regulation of financial service providers, including brokers and intermediaries, which are regulated by the Central Bank of Ireland and come under the policy remit of my colleague, the Tánaiste and Minister for Finance.
Where somebody feels they have been treated unfairly by a particular pensions provider, they have the option of making a complaint to the Financial Services and Pensions Ombudsman (FSPO). One of the main roles of the FSPO is to investigate, mediate and adjudicate complaints about the conduct of regulated financial service or pension providers. Investigations by the FSPO are free of charge to the consumer.
The Pensions Authority is the regulatory body charged with the supervision of pension schemes and has the necessary powers under statute to investigate the conduct of a pension scheme should it become aware that a scheme is not in compliance with the provisions of the Pensions Act. Where a pension scheme member is of the view that the scheme is not in compliance with legislative requirements he or she may make a formal complaint to the Pensions Authority.
I hope this clarifies matters for the Deputy.
